PRM has a variety of home loan products and services to fit your needs. Below are some featured products we offer.

Not sure which mortgage is right for you? No problem! Our mortgage bankers will guide you through the process and help you select the product most suited for your situation.

Conventional Loan

A conventional home loan is a mortgage that is not insured, or guaranteed, by the federal government. They’re popular with borrowers who have good credit, a stable job and income, who can afford a down payment, and people who are financially stable overall.

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Conventional loans are mortgage loans secured by private investors, not by government agencies. Both fixed rate, and adjustable rate loans are available with conventional financing. These loans adhere to Fannie Mae guidelines and requirements.

Contact a PRM Mortgage Banker today to discuss your options!

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FHA Home Loan

Ready to buy your first home? Working with limited income or money for a down payment? A government-insured Federal Housing Administration (FHA) home loan could be the right solution for you. Recommended for homebuyers with limited savings or low to moderate income, an FHA Loan offers a low down payment and flexible income, debt, and credit requirements.

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FHA home loan programs typically help first-time homebuyers, seniors or others with limits on what they can afford. FHA home loans offer:

  • A low 3.5% down payment
  • Flexible income and credit requirements
  • Low closing costs

Contact a PRM Mortgage Banker today to discuss your options!

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VA Mortgage Loan

THANK YOU for your service!

A VA home loan is a great benefit to military personnel during and after their service. PRM understands the importance of a “home base” for military and their families and is proud to be able to help active and retired military use this product to meet their unique needs.

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Veterans are eligible for a VA loan if they have served on active duty and have an honorable discharge, after a minimum of 90 days of service during wartime, or a minimum of 181 continuous days during peacetime.  VA home loans are partly guaranteed (typically a quarter of loan value) by the U.S. Department of Veterans Affairs and offers the following advantages:

  • No down payment
  • Higher loan value
  • No private mortgage insurance
  • Limit on closing costs
  • Option for seller to pay closing costs
  • No penalty fee for early payoffs
  • Possible VA payment assistance

Contact a PRM Mortgage Banker today to discuss your options!

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USDA Home Loan

A USDA guaranteed loan is a government insured, 100% purchase loan program. These loans are available through PRM and are for purchases in rural areas. Through the USDA’s Guaranteed Rural Housing Loan Program, low and moderate income individuals can qualify for these mortgages with low down payment. To be eligible, both the property and the applicant must qualify using current USDA standards.

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USDA Benefits:

  • No down payment
  • Very low interest rates
  • Low monthly private mortgage insurance
  • Flexible credit guidelines

-Some state and county maximum loan amount restrictions may apply.

Contact a PRM Mortgage Banker today to discuss your options!

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Jumbo Loan

A jumbo loan is known as a “non-conforming” mortgage because it is for an amount that exceeds the conforming limits regulated by two federally sponsored enterprises. Recent enhancements to Jumbo lending guidelines have created an outstanding opportunity for you to increase your purchasing power, while keeping more of your assets liquid.

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If you are looking at a home with a high price tag, you may want to consider a Jumbo loan. Jumbo loans are designed to finance luxury properties and homes in largely competitive real estate markets. They also come with unique underwriting requirements and tax implications.

Contact a PRM Mortgage Banker today to discuss your options!

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Reverse Mortgage

For those 62 years and older, a reverse mortgage can be a great retirement planning tool to achieve your goals and does not require monthly mortgage payments. A reverse mortgage allows homeowners to borrow against the equity (wealth) in their homes. It is the “reverse” to a traditional mortgage since the borrower does not make payments to the lender. Instead, the lender makes payments to the borrower.

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The lender charges interest which is added to the amount borrowed and when the last borrower moves out of the home or passes away, the loan becomes due.

Unlike a traditional mortgage, the credit and income requirements for a reverse mortgage are very minimal.

General Requirements:

  • Be a homeowner
  • Live in the home
  • Be 62 years of age or older

Contact Reverse Mortgage Northwest today to discuss your options!

Contents not provided by, or approved by FHA, HUD or any other government agency. At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment.

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First-Time Buyers: Start Here

Congratulations on your start in the journey of homeownership. PRM is here to help you through the process. Fill out our contact form and you will be instantly emailed an informational First-time Homebuyer packet you can download to help you start your journey.

Your packet will be sent to the email provided. Let us help you get started now!

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